They would ban it because it scares the rulers of the planet. I would imagine tax authorities and banks are scared of crypto and calling us all terrorists / gun dealers / drug sellers etc will help convince people that crypto is for the criminals only.

(2018-01-16, 02:02 PM)BobBobert Wrote: They would ban it because it scares the rulers of the planet. I would imagine tax authorities and banks are scared of crypto and calling us all terrorists / gun dealers / drug sellers etc will help convince people that crypto is for the criminals only.

Nor S. Korea nor China can make crypto fall. They don't rule the financial world. Yes they can cause a temporarily damage.
It is not because of them cryptos are crashing at this moment. It because of people like you and me. Prices fall because lots are selling.
Who is selling? 50% of the sellers are people lead by emotions. Fear is an emotion.
40% of the sellers are smart people. They know that emotion, fear will lead to a drop in value. So they sell just in time.
So a big part of the world sold their assets. Consequence: more price drop and more people sell.
These 40% smart people have now the chance to buy back + some extra, just before price goes up again.
That's it. For us it is to late to sell, so let's not panic and wait till it corrects back upward. If you have some spare money you should even buy some extras.

The remaining 10% are just regular sellers. People just wanting to cash out some profits are people in need of some cash.

It is good to take profit but hard as well. I kick myself when I sell some at 20 then a month later they are 40. But then if they were 10 I suppose I should be pleased. I am not really cut out to be a trader!

My way of doing it is take a profit whenever you can. With this strategy, you don't make tons of money (well, in stock exchange), but you do make money. Now, as I am building a crypto porfolio, here is the strategy I use: each time price is up to 25% or more, I cash out 25% of the total value of that coin at that moment. Since I was in for many coins at their recent bottom (ADA, TRX, BTC, ETH), I took several chunk of them at around 25% up. Then, when it began to go down, I waited and bought when they were raising again, but did not apply my 25% strategy. So, basically, by the magic of the crypto world. I end up with about the same amount of coins I had at the beginning... but with many $K more in my pocket. I am still learning with this crazy crypto world, so I am not sure it is the best strategy.

I am lucky that USD is still strong though... Because all my profit was put in USD, waiting to be change in BTC... well, after that crash, of course!

(2018-01-17, 08:59 PM)Cell Wrote: My way of doing it is take a profit whenever you can. With this strategy, you don't make tons of money (well, in stock exchange), but you do make money. Now, as I am building a crypto porfolio, here is the strategy I use: each time price is up to 25% or more, I cash out 25% of the total value of that coin at that moment. Since I was in for many coins at their recent bottom (ADA, TRX, BTC, ETH), I took several chunk of them at around 25% up. Then, when it began to go down, I waited and bought when they were raising again, but did not apply my 25% strategy. So, basically, by the magic of the crypto world. I end up with about the same amount of coins I had at the beginning... but with many $K more in my pocket. I am still learning with this crazy crypto world, so I am not sure it is the best strategy.

I am lucky that USD is still strong though... Because all my profit was put in USD, waiting to be change in BTC... well, after that crash, of course!

Cell, it is a very wise strategy. Mine is a bit similar, except that I don't go for 25% up.
I go for 100% and sell 50%.
Except for minex and for C20.
Minex gives me a daily, weekly, monthly or yearly interest and for C20 because it is a portofolio maintained by the system itself.